carpet cleaning does not remove set stains, only loose dirt

@Deepti Mandava, if you invest in RE with a SDIRA you loose one of the greatest reasons to invest in RE...Depreciation.

One caveat with taking the application and a check at the open house and then running the credit/background..... you have zero idea if that check is any good....you could pay for the credit/background and loose that $$I've been using Cozy my last 2 vacancies.....

Everyday he is there you are loosing money.

One of my main questions is the procedure to stave off the property actually going to auction if you are buying within 1-5 days of the owners loosing the place?

In the end, they credited everything back to me b/c they set it up wrong, so I didn't loose out.

Even if a person is a slob, a mouse has to be able to penetrate the structure first (unless the tenants let them loose). 

When we commenced our biggest concern was protecting our assets here in Australia I did not want to take the chance of loosing everything we had worked so hard for here so started with a LLC - which cost $550, all states are different so it will depend on where you are interested in buying property as to where the LLC is set up and you must have an agent in that state there are companies that do this or it could be the property manager.    

To keep from loosing a 'backup' applicant if the first approved delays lease signing, we use something like this:   "Once approved, applicant will have "x" days to sign the lease, or next qualified applicant will have that opportunity". 

One thing to note when looking at the individual markets, you can make or loose money in any market.